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China Raises Target For Solar Power Capacity

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China has raised its 2015 target for solar-electricity capacity, giving a shot in the arm to its solar companies, many of which are struggling due to industry overcapacity, slow global demand and overseas trade disputes.

China’s State Council, or cabinet, in a statement dated July 4 but posted Monday said installed capacity for solar electricity would reach more than 35 gigawatts by 2015, and would grow by about 10 gigawatts a year between now and then. China’s previous target was 21 gigawatts, and its installed capacity in 2012 was about 7 gigawatts.